Buying A Home After Bankruptcy?
I have a mobile home that i purchased before my BK. My bankruptcy has been discharged for a year now. I have not missed any payments on my mortgage. It is listed under BK on my credit report. I asked my lawyer what would happen if i walked away from the mobile home. He said i would not be liable for the debt because i never reaffirmed the debt to the mortgage company. Has anyone ever heard of or done this before? I want to buy a regular home with land. With the cost of lot rent and my mortgage now i cannot afford it. Does anyone have any advice how i could go about getting a mortgage. In other words will they believe what the lawyer said about reaffirmation?
Answer:
Your attorney is correct; you are not liable for any arrearages on the mobile home if you simply stop paying.
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